Issues regarding the effective municipal real property management: the question of classification criteria with a case study in Romania

The effective municipal real estate management has a special significance to the East European countries, considering their major inheritance of municipal real estates from the former communist regime, which could represent an important generator of local revenues. This paper proposes a discussion on the classification criteria of municipal properties, as a preliminary step for designing a long-term strategy for each class of properties. It is followed by the identification of the assessment methods that can be used in this field. The paper aims to demonstrate that classification and assessment represent - in this order - two distinct phases, explaining how they can be linked so as to serve as a solid methodological basis for the effective management of the municipal real estates. A case study in Romania is also included, aiming to explore the possibilities to adapt and apply various classification criteria developed in the international arena. In addition, the methods for the real estate property assessment used in the Romanian practice have been adapted in order to be employed for the assessment of the municipal real estates.